Among the benefits for clients offered by some factoring companies is the option for equipment leasing and financing, such as trucks and trailers. This opportunity provides the clients the flexibility and convenience of having their financing or leasing payments deducted from their regular advances on their invoices.
Often equipment leasing and financing decisions can be made very quickly by the factoring company as the factoring professionals already have their client’s financial information and have developed a relationship with them. The factoring company is focused on helping clients grow their business as a result of their improved and accelerated cash flow. Purchasing or leasing equipment can increase a company’s revenue and eventually its profit margin, so the factoring company is ready to offer this kind of financial support for its valued clients. Some factoring companies have partnerships with reliable equipment dealers, so they can support their clients with referrals and national opportunities that the clients might not otherwise be able to access.
Because factoring companies have these relationships with their clients, they can approve loans even if the clients do not have credit histories that would enable them to receive traditional bank loans or financing. That’s another benefit of equipment leasing and financing through your factoring company, your one-stop shop toward business success.
Benefits of Equipment Leasing and Financing
- Receive loan approval fast, regardless of credit background
- Allocate funds conveniently from factored invoices
- Reduce administrative work